The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.

The Outreach & Education function engages, empowers and educates the public in the Second District. Our outreach mission furthers the Bank’s commitment to the region by listening to the communities we serve and developing programs, analysis and sponsored conferences and clinics to help meet their needs. Our education mission aims to advance public knowledge about the Federal Reserve System and its role in the economy.

Treasury and New York Fed Announce Changes to Account Relationships of Foreign and International Monetary Authorities

The U.S. Department of the Treasury today announced changes to the rules that apply to the participation of Foreign and International Monetary Authorities ("FIMA") in Treasury auctions. These changes will facilitate the continued participation of FIMA accounts in the auction process, improve the liquidity and efficiency of the Treasury market, and allow the Treasury to better control the amount of funds raised at auction.

The full text of Treasurys announcement can be found at the following link: (http://www.treas.gov/). The FRBNY has contacted its FIMA customers advising them of these changes. Given recent auction participation by FIMA accounts, these changes are expected to effect only a very limited number of our customers.

Separately, this Bank is announcing today a new optional service that will facilitate the lending of securities from the accounts of its FIMA customers. This new service will enable FIMA customers to grant a designated depository institution access to a special custody account at the FRBNY. This new account arrangement will facilitate FIMA participation in the securities lending market through services offered by the private sector.